Loretta R. Richard
Loretta Richard is a partner in and head of Ropes & Gray’s employment, executive compensation and employee benefits practice. She concentrates on general federal income tax matters, executive compensation and employee benefits. She has special proficiency in tax and benefits controversy matters (including administrative controversy and litigation). She is also nationally recognized bond tax counsel.
With over 30 years of experience, Loretta regularly represents public and private companies in connection with employee benefit and executive compensation matters, including work on mergers and acquisitions involving both U.S. domestic and international operations (including distressed companies). Loretta works with in-house counsel, benefits professionals, finance professionals, benefits committees, investment committees, fiduciaries and others on matters related to design, establishment, implementation, operation and administration of executive compensation and employee benefit plans. She advises clients on executive compensation and employee benefits compliance matters, identifying and correcting errors in documentation and operation. She advises clients on employment and equity and equity-related compensation matters, related to employees located in the United States and abroad. She advises on the legal aspects of post-transaction arrangements, including spin-offs and integration, and transition services arrangements.
Loretta has special expertise in employee stock ownership plan matters, and has advised on the establishment and termination of ESOPs, joint ventures and the purchase and sale of ESOP-owned companies. She has represented clients in benefits litigation matters involving claims relating to employee stock ownership plans, company common stock, benefit plan contract matters, ERISA pre-emption, class action and benefit claim denials, among other things. She regularly represents clients in front of (and negotiates with) administrative agencies, such as the IRS, the DOL and the PBGC. In addition, as part of her tax controversy practice, Loretta regularly represents partnerships, corporations and individuals in connection with general tax litigation matters. She is a member of, and has appeared before U.S. District Courts, the U.S. Tax Court and the Federal Court of Claims in connection with tax and benefits litigation matters.
As part of her tax-exempt bond practice, Loretta regularly works with tax-exempt organization borrowers on bond issuances, IRS examinations, closing agreements and IRS summons.
- Brian Studniberg, Gabrielle Hirz and Loretta Richard, “Is Fishing in Tax Waters Getting Easier or Just More High-Tech?” Tax Notes (March 26, 2018)
- Kat Gregor, Loretta Richard and Brenda Coleman, “Shifting Sands: When Tax Planning Morphs Into Tax Avoidance,” Perspectives (October-December 2015)
- Presenter, “The Matrix: CISO Compensation,” The International Consortium of Minority Cybersecurity Professionals (ICMCP) 4th Annual National Conference (September 2019)
- Panelist, “Master’s Class on Executive Compensation,” CISOs Connect (February 2019)
- Panelist, “Understanding the Ins and Outs of Executive Compensation,” CISOs Connect (June 2018)
- Presenter, "Nuts and Bolts of a Partnership Tax Controversy," PLI’s Tax Planning for Domestic & Foreign Partnerships, LLCs, Joint Ventures & Other Strategic Alliances 2013 (May 2013)
- LLM (Taxation), Boston University School of Law, 1990
- JD, Boston College Law School, 1988; Order of the Coif; Executive Editor, Boston College Law Review
- BA (Hons), University of Michigan, 1983